Revenue Recognition: Determining & Allocating the Transaction Price
All materials will be electronic only
This course addresses steps three and four in the five-step process for revenue recognition under FASB ASC 606, Revenue from Contracts with Customers. Step 3 deals with determining the transaction price, including refund liabilities, variable consideration and accounting policy elections. Step 4 deals with allocating the transaction price to performance obligations in the contract including stand-alone selling prices, allocation of a discount and changes in the transaction price.
- Steps 3 and 4 in the process for revenue recognition, determining the transaction price and allocating the transaction price to performance obligations in the contract
When you complete this course you will be able to:
- Recognize requirements for determining a transaction price.
- Recognize requirements for allocating a transaction price.
Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance.